Power: AfDB Signs $200m For Nigeria’s Projects   The African Development Bank has signed for the release of $200m (about N61.2bn) to Nigeria for the expansion of the country’s power transmission infrastructure. It was gathered in Abuja on Monday that the fund signed last week by the...

Abia Govt Seeks Support As AfDB’s Investment Hits $74.5m   Abia State has approached the African Development Bank for more support as the bank’s investment in the state rose to $74.5m since the Bank Group commenced operations in Nigeria in 1971. A statement said 53 per cent...

AfDB To Support Agro-processing Zones With $300m   The African Development Bank is to support the implementation of the Special Agro-Industrial Processing Zones project in Nigeria with $300m. Senior Special Adviser on Industrialisation to AfDB President, Prof. Oyebanji Oyelaran-Oyeyinka, disclosed this at an SAPZ Inception Workshop in...

AfDB Faults W/Bank On Nigeria, Africa’s Debt Profiles   The African Development Bank has said that the upward debt trend of some African countries did not portend systemic risk of debt distress, as stated by the World Bank. It also said that the general statement by the...

18 States Worse Hit By Poverty - AfDB   Poverty rate in more than half of the 36 states of the nation is above the national average of 69 per cent, the African Development Bank has said. The bank said this in its African Economic Outlook 2020...

AfDB Approves $22m For SMEs     The board of the African Development Bank on Wednesday approved a $22 million senior loan to help Egypt’s Corporate Leasing Company (Corplease) expand its operations in the North African country. The decision signaled confidence in a burgeoning local market and in...